Accolade purchases Ascentia wine brands

07 June, 2012

ByLucy Britner

Global wine producer and distributor Accolade Wines has purchased Californian brand Geyser Peak and stablemates Atlas Peak and XYZin, together with their assets and inventory, from Ascentia Wine Estates. The financial details of the deal were not disclosed.

Chief executive officer Troy Christensen said the deal would spearhead Accolade Wines’ growth in the US.

“Initially we see that there is tremendous opportunity within the US to grow these brands but we also have the capacity to fit them within the portfolio we are now marketing in Europe, United Kingdom and the rapidly developing Asian markets, especially China.”

Geyser Peak is based in Alexander Valley, Sonoma and Atlas Peak in Napa Valley. XYZin specialises in Zinfandel production.

As part of the deal Accolade Wines will be leasing Geyser Peak’s homestead, its winery, 98 acres (38 ha) of Cabernet Sauvignon vineyard and the winery’s cellar door.

It is thought that job losses are not on the agenda and a spokesperson for Accolade said: “It’s very early - we’re integrating the businesses.”

All five wineries in the article were purchased from Constellation in 2008, when Ascentia was founded. The 2008 deal also included Buena Vista, Gary Farrell and Ste. Chapelle in Idaho and Ascentia paid $209m for the package.

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Comment

I know how wierd this might seem but I often think that the opening of a new distillery is like the launch of a new submarine. It is unveiled in all its pristine glory in a blaze of publicity and fanfare.